I welcome interactive posting with ur charts so maybe i learn from u or i will help u along to become a consistence profit trader.
Ok lets move on.
Edited: I personally just want to write this. I have been trading for about 6 years. I blew up 2 account right of the start after 2 days of playing around with MT4 (no demo period). Then i had mentor, joined a most elegant forum that have really nice people, watched how they prepare their chart everyday. I opened another account this time i lost it slowly. At that time, im pretty good at my drawings and understood the market price structures. But i still didnt make it. I didnt believe all the talk about money management, risk management, consistency, and psychology. At that time all those thing meant nothing to me. I know and told me self im really a smart person (went private university, scholarship,,,,ect) but all that doesnt not really mean nothing in trading. i took time off to focus at my education So i went and finished what i went to college for.
Then went to work, become somebody "bitch" , i was mad at myself and usually drive home with 1 question " Why ?????? my life is turn out this way ? my salary is above average " but i still don't like the idea of work for somebody.
After A year, during my vacation time, when i was watching youtube and accidentally watch the " Mark Douglas: Mind over the Market" which is really great talk show. i started to reading Forex books again.
What i did is complete remove all the trading experiences i have before (now im a noob now). i started from basic with every single expect of Forex market.
I bought a simulator software and work every nights for 3 hrs just one set up. Which is im using it now.
Finally i funded my old account again, doubled it then after 2 months im back to the original deposit.
So i asked myself again " Am i that dumb or just blankly ignorant ?".
I decided to analyze my trade then try to figure out what was wrong, which i found it.
I now have everything included in my trading plan, from single minor details to bigger picture.
CONCLUSION:
- I realized that things that will improve my trading trading is :
Trade less and make more !!!!
Stop looking at different strategy, multiple set ups but trying to maximize the strength of the set up that i had.
Accepted that my trade probability is 50/50 once i entered live.
Accepted that my trade will be a loser from start (Doing this help me to look at the risk before the reward). Also it helped keep my trading emotion checked.
Accepted that trade outcome is randomly distributed in a large sample size (50 trades) .
I had money save up for my family to function over 2 years time. So im not forcing to trade for living everyday. i'm in the experiment stage to maximize my edge. After this i plan to trade for living using large account size( planed this experiment stage for 2 years period).
2. i have a trade management system in place that kept me away from micro intervention( so i have a accurate reading of my edge over large trade sample size).
3. I kept all plan, prepare, entry and post trade journal entry that i detailed what i think, and how my emotion vibrates over the course of that trade.
( This is big help after i have a sample size and do analysis).
4. TRADING IS HARD WORK. (It took me a long time to realize this but i finally got it. It took me 4 years of hard working to finish engineering school, and 4 years of working experience to take the final PE exam to become a Professional Engineer. What did, made me think that i can become a pro trader over period of few months. !!!!!!!! Wake up call for all beginners ).
5. LIFE IS ONE THING WORTH LIVING FOR. TRADE TO LIVE, NOT LIVE TO TRADE.
Risk Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
I'm not a CTA, so im not providing advises, signal to enter the trade. I posted all this so i can kept all my journal for my friend, my wife and my relative, when they decided to learn to trade.
Do not using my trade post here to trade in your live account because you will lose. The reason is this is my hard working result, you may or may not see the market as the way i see it. You dont know my trade management or risk (Maybe you know because i post my preplan and execution)
But overall if you want to learn, i will hold your hands and help you a long the way. Not take my signal and trade . I warned you " You will lose alot of money before you know it"
